We are hearing about more instances where our members are being scammed to send payments through money transfer companies like Zelle and Cash App. Both these apps warn customers that the service should only be used to send money to “known” parties, but that reminder isn’t mentioned again after you set up your account with them. When someone does a transfer to an otherwise unknown individual for any purpose (such as purchasing a puppy, buying concert tickets or donating to a cause), once the transaction has been authorized by you the sender the money is GONE. You cannot retrieve the money because the merchant involved (Cash App or Zelle) did not do anything wrong.
What can you do? If you are purchasing something on the internet, use a credit or debit card to have greater protections. And remember that Cash App and Zelle will not call you to report fraud. Any time you have concerns about a transaction that has affected your Family First FCU account, just call the credit union directly at 406-727-7575 or send a secure message through Home Banking and we will respond as soon as possible.